Gujarat inks $1.5 bn green hydrogen deals with Torrent Power, Erisha eMobility

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Gujarat inks $1.5 bn green hydrogen deals with Torrent Power, Erisha eMobility

Gujarat inks $1.5 bn green hydrogen deals with Torrent Power, Erisha eMobility

Industry News
Jan 08,24

Torrent Power has committed to constructing a green ammonia facility valued at 72 billion rupees as part of its broader initiative to invest 470 billion rupees in power projects within the state.

Gujarat inks $1.5 bn green hydrogen deals with Torrent Power, Erisha eMobility

On January 5, 2024, the Indian state of Gujarat entered into memoranda of understanding (MoUs) with two companies, Torrent Power and Erisha E Mobility, marking commitments to develop green hydrogen projects with a combined investment of nearly $1.5 billion.

Torrent Power has committed to constructing a green ammonia facility valued at 72 billion rupees ($866 million) as part of its broader initiative to invest 470 billion rupees ($5.7 billion) in power projects within the state. The utility had recently established a green hydrogen subsidiary and participated in India's green hydrogen production subsidies auction, aiming to cover 18,000 tonnes annually. Additionally, Torrent Power initiated a pilot project in July of the previous year to incorporate 2.5% hydrogen by volume into the city gas grid in Gorakhpur, Uttar Pradesh.

Meanwhile, Erisha E Mobility, founded in 2021 by the Rana Group conglomerate, plans to invest $600 million in a green hydrogen plant. The company intends to collaborate with European partners for the plant, although specific details regarding its size and potential offtake remain undisclosed. Erisha E Mobility has also signed MoUs with Gujarat for a $180 million electric vehicle manufacturing facility and allocated $50 million for the installation of 100 charging points.

Source: hydrogeninsight.com